In the case of foodstuffs, which continue to have a greater impact on inflation, this indicator for August 2023 was 0.50%, which is a higher level than the one recorded in August 2022, when it was 0.03%, while annual inflation (measured between August 2022 and August 2023) reached 2.56%.

In the current part of the year, the price growth index is 1.92 percent: in January it was 0.12 percent; in February 0.02%; March, 0.06%; April, 0.20%; May, 0.09%; June 0.37%, and July 0.54%.

July’s monthly inflation of 0.54% is the highest in 10 years, driven by food prices such as rice

The Food and Non-Alcoholic Beverages division’s products that had the biggest impact on inflation in August were paiteña onions, lemons, table cheese, wood-fired tomatoes, chicken eggs, green plantains, kidney-shaped tomatoes, ripe plantains, avocados and potatoes, according to the published report. . by the National Institute of Statistics and Censuses (INEC).

Onions were selling for $1 a pound; however, this week in September it is $0.70 in Guayaquil markets. Fifteen small lemons are traded for $1, and eight large ones are given for the same price. Dominican plantains sell eight for $1, as do ripe plantains.

Blanca Caluña, the owner of the market stall, said that this drop in prices is due to the fact that “maybe the product is sprouting and coming out.”

Food costs are also reflected in restaurant and hotel inflation. So, those with the highest frequency are:

On the other hand, in August, the price of gasoline reappears among the most represented products, in the category of transportation. And that is that as of August 12, 2023, the price of super gasoline once again exceeded the $4 mark. A gallon of super premium gasoline — which is adjusted monthly — rose 43 cents then, from $3.77 to $4.20. While the benchmark price of ecoplus gasoline rose from $2.97 to $3.39.

In August 2023, the cost of the basic family basket, which consists of 75 products, is located at $785.47, which is an increase of $5.86 compared to the previous month. Vital Family Basket rose $7.44 to $553.62; contains 73 products. Both baskets allow us to know the consumption of purchasing power of wages due to inflationary effects, in terms of the composition of effective consumption expressed as monetary consumption.